What Guideposts Are You Using To Make Profitable Buying Decisions?
Like any movement from one point to another, retail buying decisions can be mapped out. On a road trip, you would plan your route and rely on signage along your route to tell you where to change directions so that you arrive at the place you want to be at the time you need to get there. Your GPS may tell you to turn but you still need to see where that turn is on the road ahead. ChainDrive’s Planning/Open-to-Buy component provides the same type of guidance.
Know Where You Are
Just as planning a trip must start at where you currently are located, planning for the future starts by assessing where you are now. Comparative analysis of your historical statistics provides an accurate view of where your business has been and where your current levels are now. ChainDrive’s centralized database keeps all historical and real-time information in one place, making it simple to filter and view specific information by season or by any other criteria. Having an accurate starting point gives benchmarks accuracy because you are measuring from a consistent standard.
Determine Your Own Guideposts
Key performance indicators, benchmarks, guideposts, etc. all are like signage on the highway that tells you where you are. We drive past signs that don’t apply to our journey but we look for those indicating a route change or exit that we need to take. Guideposts for profitable buying decisions have to be created for the specific situation a retail business is experiencing. This requires dynamic controls of the data that is viewed from the widest angle down to the tiniest detail in the way that the viewer deems best.
ChainDrive is designed to be adaptive to the user and customizable for applications that need it. Your business has unique factors that must be considered and unique individuals doing the analysis so your planning software needs to be able to accommodate all the variables. The Planning/Open-to-Buy component lets you view your data the way you need to see it so that you can create the best route to success.
The guideposts that will help you get to success will be the ones you designed to keep your business moving forward in the direction you planned.